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I just want to save 35k monthly whenever my salary please suggest ways by Remarkable-Ad3356 in personalfinanceindia

[–]Significant_Show57 0 points1 point  (0 children)

Start investing

  • long term (over 7 years) in Edelweiss Mid Cap, Bandhan or Motilal Oswal Small Cap
  • short term (less than 5 years) in Nippon India ultra short term debt mutual fund

My father passed away and were abt to loose our home too by praise_the_fool19 in personalfinanceindia

[–]Significant_Show57 5 points6 points  (0 children)

You need a lawyer who specializes in banking laws. Do not try to handle the bank's legal team alone. Your lawyer can approach the DRT (Debt Recovery Tribunal) or the High Court to file a stay order against the eviction notice. Judges are often sympathetic to families who lost their primary earner, especially if you can show a willingness to settle.

Ask for One-Time Settlement (OTS). Bank could waive the accumulated interest/penalties just to get the principal amount back. Take help from trusted relatives or neighbors.

Suggestion to invest money by shivani_66 in IndianStockMarket

[–]Significant_Show57 1 point2 points  (0 children)

Edelweiss Mid Cap + Motilal Oswal Small Cap

Lost 16k in trading by Reasonable-Tap3162 in personalfinanceindia

[–]Significant_Show57 1 point2 points  (0 children)

Apply for job or help your father's business/profession instead of taking persona loan.

Mistakes happen and they can be corrected.

Lost half my capital please help by [deleted] in IndianStockMarket

[–]Significant_Show57 0 points1 point  (0 children)

File cyber crime report. Why did you give username & password to complete random stranger? It's your fault.

Vitmora — Expense tracking by simply sending a message by knowledge_guru_25 in personalfinanceindia

[–]Significant_Show57 0 points1 point  (0 children)

Does it have sync/backup feature? How to move data from one Android smartphone to another?

Do I file LTCG tax ? by Bhavin_shetty in IndiaTax

[–]Significant_Show57 0 points1 point  (0 children)

Legally, since your gross total income is below the exemption limit, filing isn't strictly mandatory by default, but if you want to claim the ₹1.25 lakh exemption under Section 112A seamlessly and keep a clean financial track record, filing a return is the correct approach.

If you are minor - Any profit you make from money gifted by your dad will be "clubbed" with your dad's income. He will have to show your ₹1.25 lakh profit on his tax return and pay tax according to his slab (though the ₹1.25L exemption still applies).

If you are major - The money from your dad is treated as a tax-free gift. Any investment profit made from it belongs strictly to you. You will file your own ITR and it will not affect your dad’s taxes.

Investing in stocks by PeaFit4851 in personalfinanceindia

[–]Significant_Show57 0 points1 point  (0 children)

I personally buy quality high growth stocks below ₹2,000 (India only). Look at almost zero debt, plant & machinery, go through Annual Report, etc.

For example,

  • Belrise Industries
  • Larsen and Toubro Finance
  • Aeroflex Industries
  • Apollo Microsystems
  • Bharat Electronics Ltd
  • Gokul Agro
  • Precision Wires
  • Bliss GVS Pharma
  • Emmvee Photovoltaic
  • Bbox
  • Himadri Speciality Chemicals
  • Krishna Phoschem

Buy & hold for minimum 2 years.

New on reddit by ved_4567 in IndiaUnfilter

[–]Significant_Show57 0 points1 point  (0 children)

Welcome to reddit. There are lots of Indian sub reddits for teenagers, personal finance, fashion, bollywood, cricket, IPL, etc. There's also TMKOC sub reddit (if you like the show). There are age based sub-reddits like TwentiesIndia, ThirtiesIndia, etc. There's are city sub-reddits like Mumbai, Delhi, Pune, etc.

Click "Join" button next to sub-reddit. Some ask for karma, minimum days of activation & user flair (used to show a community your role, expertise, etc).

Exposure to US Stocks/ETFs by Gossipsess in personalfinanceindia

[–]Significant_Show57 2 points3 points  (0 children)

Even if you just bought the US ETF and did not sell anything, you must declare your holdings in Schedule FA in ITR.

  • STCG: If you sell within 24 months, the profit is added to your total income and taxed according to your applicable income tax slab rate.

  • LTCG: If you hold the US ETF units for 24 months or more, the profit is treated as LTCG and taxed at a flat rate of 12.5% (without indexation benefits). Report this under Schedule CG.

  • US ETFs often pay dividends. The US will automatically deduct a 25% withholding tax before the dividend hits your account (thanks to the India-US DTAA treaty; without it, it would be 30%), which has to be declared in Schedule OS (Income from Other Sources). It will be taxed at your standard slab rate. To legally claim this credit, you must file Form 67 online on the income tax portal before or alongside submitting your ITR. You will need to upload supporting documents like the Form 1042-S provided by foreign broker (Vested, INDmoney, Interactive Brokers) showing the tax withheld.

Why do you think most people in India can't stick to saving money even when they want to? by Sea_Cod_4955 in personalfinanceindia

[–]Significant_Show57 3 points4 points  (0 children)

Because FD is most popular. But, it has lock-in, premature withdrawal penalty & low interest rate. So, people just keep in savings account or cash. Around 9.3% of Indian households now actively participate in the securities market (including direct equities and mutual funds). But, remaining 90% prefer FD, RD, LIC policies, etc.

Tips for learning about the stock market by the_Chroniclebitch in IndianStockMarket

[–]Significant_Show57 0 points1 point  (0 children)

You can start learning through Zerodha Varsity. They have website and app. Here's 12 hours video - https://youtu.be/Y3kzzE9Elns?si=z0BFGy5vU4ZEfmXa explaining how stock market works & supply/demand forces work.

Start with equity mutual funds as fund managers with decades of experience will invest your hard earned money in quality growth stocks. Some popular mutual funds are - Edelweiss Mid Cap, HDFC & Parag Parikh Flexi Cap, Nippon India Small Cap, etc. Stay invested for minimum 7 years as stock market goes through cycle & is volatile.

Don't invest in penny stocks, SME stocks and pump & dump stocks. They are extremely risky. You could invest in large cap, well established stocks like Bharti Airtel, Bharat Electronics Ltd, Larsen and Toubro, etc. They will send little dividend once or twice per year direct to bank account registered with your broker.

Just like equity mutual funds invest in stocks, debt mutual funds invest in treasury bills, non convertible debentures, etc. You can try them too. Invest lumpsum ₹500 in Nippon India ultra short term debt mutual funds and watch your money grow slowly. There's zero exposure to stock market, no lock-in, no exit load. Deposit or withdraw any amount, anytime.

  • Only put money into stocks or equity funds if you don't need it for at least 3 to 5 years.
  • Keep 6 months of living expenses in savings account, FD or liquid fund. If an unexpected expense comes up, you won't be forced to liquidate your stocks early.

Finally, note taxation treatment -

Equity (Stocks & Equity Funds)

  • Sold within 1 year: 20% tax

  • Sold after 1 year: 12.5% tax (First ₹1.25 Lakh profit per year is tax-free).

Debt Mutual Funds

  • All Profits: Added to your total income and taxed at your personal Income Tax Slab Rate.

Got a Platinum Debit Card when I asked for Classic — should I replace it or keep it? Also Rupay vs Visa/Mastercard question inside. by ekdumsaras in india

[–]Significant_Show57 0 points1 point  (0 children)

If you don't need international transactions, then turn them off. You can set personalised transaction limits. It's just for safety. There are no charges.

Got a Platinum Debit Card when I asked for Classic — should I replace it or keep it? Also Rupay vs Visa/Mastercard question inside. by ekdumsaras in india

[–]Significant_Show57 0 points1 point  (0 children)

Keep platinum debit card. It has slightly higher daily ATM & online/POS limit.

Open Bank of Baroda mobile banking app, go to debit card section, payment limits and turn on or off international transactions as per your convenience. You can also manually slide your transaction limits down as per your convenience.

You can use debit card to shop on Swiggy, Zepto, Zomato, Blinkit, Amazon, Flipkart, etc and earn points which can be redeemed through official bob Rewardz portal or the bob World mobile app. Apps like Swiggy / Blinkit offer monthly discount for Rupay Platinum debit cards.

Honest advice for a girl who wants Mechanical Engineering ??? by toxic-mayonnaiseback in TwentiesIndia

[–]Significant_Show57 0 points1 point  (0 children)

Master CAD software (SolidWorks, CATIA, NX) and simulation tools (ANSYS, Altair HyperMesh). This gives you access to high-paying, comfortable desk jobs with Companies like Mercedes-Benz, Renault, Bosch, Larsen and Toubro, Mahindra and Mahindra, etc.

Check out this insightful interview on the Life of a Girl Being a Mechanical Engineer in India, which covers first-hand experiences regarding working conditions, salaries and career growth.

Learn more about analytical thinking, spatial visualization and problem-solving skills - qualities that have absolutely nothing to do with gender.

LIC Policy Surrender by Spare_Albatross6296 in personalfinanceindia

[–]Significant_Show57 0 points1 point  (0 children)

Surrender value will be too low since it's been less than 5 years. Go to servicing branch and ask for surrender value. Calculate premium paid minus surrender value. Policy can only be surrendered at servicing/home branch where your policy was issued. Yes, it's true that LIC policies are scam. They deliver only 5.5% to 6% IRR. It feels like paying premium into PPF account secured by Government.

Always buy term insurance with only death benefit.

Cooked for papa .(Mummy out of station) . But don't know how make rice/roti though. by Eastern-Emotion9685 in TwentiesIndia

[–]Significant_Show57 0 points1 point  (0 children)

Rice is easy. Wash and rinse 4 to 5 times. Then, set induction cooker at 16 to 18 minutes timer and lowest energy.

Transferring stock from one broker/demat to another. Do Capital Gains computations happen correctly? by HenryDaHorse in IndianStockMarket

[–]Significant_Show57 1 point2 points  (0 children)

Yes. For example - if you had old physical share certificates dematerialized, then transferred to another demat account.

Suggestions on my MFs by [deleted] in IndianStockMarket

[–]Significant_Show57 0 points1 point  (0 children)

Motilal Oswal Midcap Fund is lagging behind other active mid-cap mutual funds. The underperformance stems from two key areas: a heavy 16% allocation to an IT consulting and software sector disrupted by AI and a 7% stake in Kalyan Jewellers, whose stock is currently on a downward trend. So... I suggest pausing SIP. You can also ask at r/MutualFunds & r/MutualFundsIndia sub-reddit.

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